Ctrl + F is the shortcut in your browser or operating system that allows you to find words or questions quickly.
Ctrl + Tab to move to the next tab to the right and Ctrl + Shift + Tab to move to the next tab to the left.
On a phone or tablet, tap the menu icon in the upper-right corner of the window; Select "Find in Page" to search a question.Share Us
Sharing is Caring
It's the biggest motivation to help us to make the site better by sharing this to your friends or classmates.
The study of how individuals, businesses and governments make decisions on allocating the resources to satisfy unlimited wants and needs in a world of scarcity.
The landowners lived in a kinship headed by a DATU or a chiefwithin a community called _______
The introduction of the first steam machinefor hulling rice by ________
For comparison between countries, total income is not such a useful measure. State whether true or false.
The intent is to QUANTIFY AND CONSIDER the order of MAGNITUDE of the numbers involved.
Cost that has occurred in the PAST and has NO RELEVANCE to estimates of future costs and revenues related to an alternative course of action
Who propounded the concept of Investment Multiplier?
In case of Negative Income Elasticity, demand curve is------
A unique product or service is only available from a SINGLE SUPPLIER and that vendor can PREVENT THE ENTRY of all others into the market.
Importance of the study of International economics_Select the wrong one
Listen this audio clip and Identify the Person in Audio clip.
What does “Capitalism” refer to?
Economics is considered to be a social science because its study includes:
Central Bank is an___________
What category of resources refers to people who turn raw materials into products
From the standpoint of a soft drink company the question of "What goods and services should be produced?" is best represented by which of the following decisions?
________ the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
LOSS in value of the ASSET. INTEREST on invested CAPITAL.
Scarcity is a condition that exists when
Whenever the interest charge for any interest period (a year, for example) is based on the REMAINING PRINCIPAL AMOUNT plus any accumulated interest charges up to the beginning of that period.A = P (1 + r/n)nt
Cost efficiency combined with scientific knowledge
Which of the following is/are the branches of Economics?
The most important function in managerial economics
Fill in the blanksEconomics is a ____ that studies and seeks to allocate scarce human and non-human resources among their users to satisfy their unlimited wants and needs.
Solves for the interest rate that EQUATES the equivalent worth of an ALTERNATIVE'S CASH INFLOWS (receipts or savings) to the EQUIVALENT WORTH OF CASH OUTFLOWS (expenditures, including investment costs).
Estimates made from DETAILED QUANTITATIVE MODELS, blueprints, product specification sheets, and vendor quotes.
WEALTH in the form of MONEY OR PROPERTY that can be used to produce more wealth.
This law established the Commonwealthgovernment in the Philippines toprepare is for independence.
Cash flows are constituted through this sequence when some problems involve receipts or expenses that are projected to INCREASE OR DECREASE BY A UNIFORM AMOUNT each period.
What do you mean by a mixed economy?
The total interest earned or charged is LINEARLY PROPORTIONAL to the initial amount of the loan (principal), the interest rate, and the number of interest periods for which the principal is committed.I = P x I x N or I = P(rincipal) x R(ate) x T(ime)
A critical element of entrepreneurship (as opposed to managerial skills) is
GNP stands for
Proponent ofutilitarianism, an ethicaltheory developed byJeremy Bentham
__________ is a branch of economics which deals with the application of various concepts, theories, methodologies of economics to solve practical problems in business management.
FIXED COSTS remain ______ over a wide range of activities, but VARIABLE COSTS ____ in total with the volume of output.
Most important of his contribution was thelaw of comparativeadvantage, afundamental argumentin favor of free tradeamong countries and ofspecialization amongindividuals
What category of resources refers to skills, education, or experience
Those nonrecurring costs of SHUTTING DOWN THE OPERATION and the retirement and disposal of assets at the end of the life cycle.
Which of the four are NOT one of the four categories of resources
A government decides to raise taxes on big business, and in doing so results in an exodus of conglomerates from the country
ONE-OF-A-KIND expenses that occur at IRREGULAR intervals and thus are sometimes difficult to plan or anticipate from a budgeting perspective.
Include many of the recurring annual expense items associated with the OPERATION PHASE of the life cycle.
Japan: Mixed EconomyCuba: ___ Economy
Microeconomics is a branch of economics which deals with the individual decisions of units of the economy- firms and households, and how their choices determine relative prices of goods and factors of production.
An ________ is a piece of land given to the loyal servants ofthe King of Spain.
Costs that are DIFFICULT TO ALLOCATE to a specific output or work activity
When was NITI Aayog established?
Determinants of Elasticity of Demand
NicholasLoney had helped in the production of rice andsugar
In order to achieve the real the real essence of free tradebetween the Philippines and the US, tariffs and quotas wereabolished but still, the law favored the Americans
Market situation where there is single seller. There is no close substitute and no free entry and exist. is refer as
Demand Forecasting is base for estimating sales, production, overhead budgets.
The best definition of economics is
Uses a "PER UNIT" factor to develop the estimate desired. Developing estimates of the rough or order-of-magnitude type.
Labor, human capital, entrepreneurship, natural resources, and capital are all examples of which of the following?
Which of the following is not considered as a factor of production?
Which of the following is the best example of how the question of "what goods and services to produce?" is answered by the command process?
The concept of designing products, goods, and services with a FULL AND EXPLICIT RECOGNITION OF THE ASSOCIATED COSTS over the various phases of their life cycles
Which of the following is a system that is based off of consumer decisions where prices reflect consumer preference
deals with different thinkers and theories in the subject that became politicaleconomy and later economics, from the ancient world to the present day. It encompasses many differentschools of economic thought.
The SYSTEMATIC evaluation of the ECONOMIC MERITS of proposed solutions to engineering problems
FDI stands for
Because of the use of limited resources, such that the OPPORTUNITY TO USE THOSE RESOURCES to monetary advantage in an alternative use is FOREGONE.
The economic concept of "opportunity cost" is most closely associated with which of the following management considerations?
CAPITAL REQUIRED for most of the activities in the acquisition phase.
GDP stands for
What type of statement is the sentence below:"The private sector is more reliable in providing quality services than the government."
Involve the most TIME AND RESOURCES to develop and thus are much MORE ACCURATE than rough or semi- detailed estimates. (-3 to +5%)
For comparing the development of countries, their _______ is considered to be one of the most important attributes.
"DIVIDE AND CONQUER."An estimate is decomposed into its INDIVIDUAL COMPONENTS, estimates are made at those lower levels, and then the estimates are aggregated (added) back together.
occurs ONE INTEREST PERIOD BEFORE the first A (uniform amount)
Directly takes into account the INTEREST RATE (E) EXTERNAL TO A PROJECT at which NET CASH FLOWS GENERATED (or required) by the project over its life CAN BE REINVESTED (or borrowed).
An economy which has no trade relation with other countries is called
Demand Function explain relationship between demand for Commodity and its___________.
Often called the SIMPLE PAYOUT METHOD, mainly indicates a PROJECT'S LIQUIDITY rather than its PROFITABILITY.—Calculates the NUMBER OF YEARS required for CASH INFLOWS to JUST equal CASH OUTFLOWS.
Any expense that is KNOWN AND ANTICIPATED, and that occurs at REGULAR intervals.
It was the first trade act which opened our ports to theUnited States in 1909.
If two goods are complementary to each other, cross elasticity demand is said to be "-------------"
In economics, human wants are considered to be:
Household income increases by 200% in the last decade
Scarcity refers to
The annual interest rate WITHOUT CONSIDERING THE EFFECT of any compounding.
Used for BUDGETING PURPOSES at a project's conceptual or PRELIMINARY DESIGN STAGES. (-15 to +20%)
Whenever the interest charge for any interest period (a year, for example) is based on the REMAINING PRINCIPAL AMOUNT plus any accumulated interest charges up to the beginning of that period.
SUMMATION OF ALL THE COSTS related to a product, structure, system, or service during its LIFE SPAN.
An EQUAL ANNUAL SERIES OF DOLLAR AMOUNTS, for a stated study period, that is equivalent to the CASH INFLOWS AND OUTFLOWS at an interest rate that is generally the MARR.
established this withthe goal of developing the agricultural sector of the countryand helping the country to be free form Mexico’s help.
Costs that can be reasonably measured and allocated to a SPECIFIC output or work activity
This was first adopted by Greek philosopher, Plato. In the past economicswas considered as a handmade of ethics. Naturally philosophical approach was adopted by the veryearly writers/thinkers to discuss economic ideas.
Based on the concept of EQUIVALENT WORTH OF ALL CASH FLOWS RELATIVE to some base or beginning point in time called the PRESENT.
John Stuart Mill (1844): defines the subject in a social context as:The science which traces the laws of phenomena of society as it arise from the combined operations of mankind for the production of wealth, so far as those phenomena are not modified by the pursuit ofany other subject.
identify this personality
A government payment that supports a business or market.
A regional trade organization made up of European nations
who is the father of economics?
The SUM of the total fixed cost and total variable cost
_________ the part of economics concerned with single factors and the effects of individual decisions.
Which of the statements below best illustrates the use of the market process in determining the allocation of scarce resources?
PAYMENTS for the RISK the investor takes in permitting another person, or an organization, to use his or her capital.
Total cost DIVIDED BY the number of units
Reflect relative PRICE CHANGE.
Total Revenue =------------ x ----------
is a market structure where there is only oneindividual or company, controlling the market
PLANNED costs per unit of output that are ESTABLISHED IN ADVANCE of actual production or service delivery
Formula to find NDP(Net Domestic Product) is_______
In the text, the key question in the "economics of a business" is
A good that is sent to another country for sale
The value of all monetary transactions between a country's economy and the rest of the world.
Also called the HURDLE RATE, this is the MINIMUM REQUIRED INTEREST RATE for invested money.
Which of the following is a system that consists of an authoritative central planning by the government
Variable cost for ONE MORE UNIT; both increase or decrease in output
Gross Domestic Product is an increase in the average level of prices.
BARANGAY comes from the Malay word _____ whichmeans “sail boat”.
Fill in the blanksEconomics is a social science that studies and seeks to ____ scarce human and non-human resources among their users to satisfy their unlimited wants and needs.
Which of the following is a system that is a combination of two or three other systems
Rev. Thomas Malthus wrote inopposition to the popularview in 18th-century
Businesses begin offerring incentives to senior citizen interns
DETERMINING THE PRESENT WORTH (PW) of all revenues or expenses over an INFINITE LENGTH OF TIME.— A convenient basis for COMPARING mutually exclusive alternatives when the period of needed service is INDEFINITELY LONG.
Who is the Father of ModernEconomics
The ADDITIONAL cost (or revenue) that results from INCREASING the output of a system
The resources required to make a product (good or service)
If the cash flow DOES NOT BEGIN UNTIL SOME LATER DATE.
Fill in the blanksEconomics is a social science that studies and seeks to allocate ____ human and non-human resources among their users to satisfy their unlimited wants and needs.
DOES NOT INVOLVE A CASH TRANSACTION and is reflected in the accounting system
"------------------ of demand is the proportional change of amount purchased in response to small change in price."
What is Open market operations?
A situation in which any given product is supplied by a LARGE NUMBER OF VENDORS and there is NO RESTRICTION on additional suppliers entering the market.
The lowering or elimination of protective tariffs and other trade barriers between two or more nations.
Macroeconomics is the branch of economics that studies the relationship among broad economic aggregates like national income, national output, money supply, bank deposits, total volumes of savings, investment, consumption expenditure, general price level of commodities, government spending, inflation, recession, employment, and money supply.
occurs at the END OF PERIODS 1 THROUGH N, inclusive.
Ascertains whether the BENEFITS OF A PROJECT (in terms of the PV/PW of the cash inflows) are GREATER THAN, LESS THAN or EQUAL to the costs of a project (in terms of the PV/PW of the cash outflows).
Based on the EQUIVALENT WORTH OF ALL CASH INFLOWS AND OUTFLOWS at the end of the PLANNING HORIZON (study period) at an interest rate that is generally the MARR.
Inflation is a monetary measure of the market value of all the final goods and services produced in a specific time period.
What category of resources refers to physical infrastructure, machines, etc.
Which of these examples is a service?
The duration of the interest period decreases from some finite duration △t to an INFINITELY small duration dt, and the number of interest periods per year becomes INFINITE.
First Economist who introduced basic idea of International Economics
Which of the following is the best example of "how goods and services should be produced?"
What category of resources refers to the raw materials itself
Define the concept of full employment
discusses economic ideas in order of time.The economic ideas of different economists can be presented year wise and can be studied.
Revenue is the total monetary value of the goods or services sold.
The BENEFIT THAT IS FOREGONE by engaging a business resource in a chosen activity instead of engaging that same resource in the foregone activity.
______ is giving away money or goods for a good cause.
What are the four basic economic questions?
Cash flow is modeled through this sequence when a fixed amount of a commodity that INFLATES IN PRICE AT A CONSTANT RATE EACH YEAR.
Government borrowing has resulted to inflation rising to 10%
__Select the group that best represents the basic factors of production.
A SEGMENTED TIME-BASED HORIZONTAL LINE, divided into time units which visually represent income and expenses over some time interval.
Demand Forecasting is also known as ________Forecasting
the main benefits of free trade include
Those UNAFFECTED BY CHANGES in activity level over a feasible range of operations for the capacity or capability available
A benefit, profit, or value of something that must be given up to acquire or achieve something else.
Has coronavirus effected the lives of students?
ADAM SMITH defines Economic thought as the sum total of all the opinions and desires concerningeconomic subjects especially with public policies of different times and places.
Which of the following is a system where decisions are based on tradition and practices
An operation that VARIES in total with the quantity of output or other measures of activity level
Approaching economic estimate from DIFFERENT PERSPECTIVES because such varied perspectives add richness, confidence, and quality to the estimate.
Numerical values that REFLECT HISTORICAL CHANGE IN ENGINEERING (and other) costs.
Which of the following is the best example of "what goods and services should be produced?"
__________ is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.
The annual interest rate TAKING INTO ACCOUNT THE EFFECT OF ANY COMPOUNDING during the year.
When the quantity demanded remains the same whatever be the change then Price elasticity is
Expert Opinion method is also known as
occurs at the SAME TIME AS THE LAST A, and N periods after P
What type of statement is the sentence below:"There should be government regulation to curb the formation of exploitative private monopolies in business"
Study on economic interdependence between countries and its effects on economies is known as
Managerial economics is best defined as the economic study of
WHO IS THE 16TH PRESIDENT OF THE PHILIPPINES?
Estimate the COSTS OF INDUSTRIAL PLANTS AND EQUIPMENT; scales "UP" or "DOWN"
The value of a nations currency in relation to a foreign currency.
Managerial economics is best defined as
To keep up this site, we need your assistance. A little gift will help us alot.Donate
- The more you give the more you receive.Related Subject
Inventory Production Control
Strategic Business Analysis
Real Estate Consulting and Investment Analysis
Internet Marketing and Entrepreneurship
Principles of Marketing
Barber Shop Business Plans
Macroeconomics Theory and Practice
Strategy Management and Acquisition
Real Estate Appraisal and Property Management
Investment and Portfolio Management
International Business and Trade
Tax Accounting Assistant
Shopee 3D Floor
Lazada Smart TV Box